The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-01-06
: TIN MINES IN MEXICO.
ST. Louis Capitalists Investigating
a Promising Property.

Gold and silver mines are plentiful in
the st, Louis market, and the fact OF a
new one being offered for sale causes
little remark. But negotiations for
obtaining possession OF a mining
property of much rarer character are
now in progress, and it seems probable
hat the purchase will be made within
few days. OF all metals in common
nee tin is probably the one least gener-
aIIv distributed, the supply being
ATTAINED from a few isolated localities.
Thare are thousands of gold and silver
m,nes in the United States. but only one
tin mine of any extent, although tin is
found in small gu antilles in several
States of the Union. The principal
snnnIy of tin has hitherto come from
Cornwall, and the Island of Banca, in
the Mediterranean, with slight supply
from Spain, Germany and Australia.
n FIVE or six mines should suspend
operstions, the worlds supply of this
metal would be practically cut off.
The great Cornish mines have been
sunk so deep in the course of eight or
nine CENTURIES of active work that the
difficulty attending the extraction of ore
is so great as almost to prevent profta-
BILE operation. and for several years past
English capitalists have been searching
all over the world for fresh deposits. An
offer of So, 500, 900 was made for the only
considerable tin mine in this country,
situated in the Black Hills, but this
offer was refused the American holders
having no desire to sell. Observing this
anxiety on the part of the English to
obtain property of this character, Judge
Masterson, Of New Mexico, turned his
eyes toward Old Mexico, with whose
mineral wealth he was well acquainted,
and after a careful search discovered in
the State OF Durango a mine which he
believes to be of great value. This mine
was proftably worked by the Spaniards
until 1915, when in an Indian raid
large number of the miners were
murdered, the works destroyed and the
entire settlement broken up. The mine
was then abandoned and almost for
gotten. A shaft was at once sunk by
Judge Masterson, and the vein struck
at a depth of ten feet, but work was
continued until depth of twenty-five
feet was reached and eongiomerate VEN
laid bare four feet, in thickness, with
pay streak of eighteen inches. The
result of a large number of assays
showed from II to SO per cent. of metal
lie tin, the Banca mines yield 5 per cent.
and the Cornish less than 3. The ore
living near the surface is easily mined,
and no machinery will be required. One
great advantage which Judge Master
son claims for his mine, the Coneto, is
the fact that it is a vein and not a
placer, like the Dakota mines. From
their nature placer mines must at some
time be exhausted, but the history of
the Cornish mines proves that a tin vein
is practically ineXhausted. After care
full calculation Judge Masterson has
come TO the conclusion that ingot tin
can be delivered in New York at a net
profit of 1920 per ton. There will never
be any difficulty about finding a
market, as tin is an article greatly in
demand, the United States alone i'm
porting from $40,000,000 to $60,000,C00
worth annually. 1t is proposed to
stock the mine for $2,000,000 and
several st. Louis parties are now in
active negotiation to obtain part of this
stock, Judge Matterson desiring to
realm large amount in his own hands.
A smelter will be erected. This will be
the second on the continent, the only
OlneI one DeiQS also III durango, ana
controlled by st. Louis parties, Judge
Masterson is confident that he has
obtoined possession of a most valuable
property and one whose value will
remain permanent. While the sale of
stock to st. Louis capitalists has not
absolutely been concluded, there seems
little doubt that the transaction will be
closed within a few days and st. Louis
hPrOn OOSSaSSed Of nrODprfv which
may outrival the famous Cornish mines.